MISSISSIPPI Jul/Aug 2017 DEALER DOWNLOAD the NEW MSIADA App and Save Big! Independent Dealers Steer Through Challenges Hackers Target Dealer Social Media Posts Predicting Auto Retail’s Top 3 Trends in an Unpredictable 2017s PLUS Q&A with NIADA’s Steve Jordan Online Dealer Software Dealer Websites Fully Responsive Feeds to Third Party Websites Social Media Integration Craigslist AD Generator Google Friendly Free Domain Registration Accept Online Payments Online Credit Applications Website Lead Notifications Carfax Integration Dealer Management Auto Check Integration Software Embeded YouTube Videos Print Forms on Plain Paper Wayne Reaves DMS Integration Calculate Deal Numbers Easy to Manage Internet Based Automatic Backups Automatic Updates Prospect Manager Fully Responsive Websites E-mail and Text from DMS Inventory Management Cash and Wholesale Deals Buy Here Pay Here Bank Financing Related Finance Company Collections and Repossessions Accounting Reports Route One Integration Wayne Reaves Website Integration CALL NOW WayneReaves.com 800.701.8082 MISSISSIPPIMississippi Independent Auto Dealers Association Online Dealer Software Dealer Websites Jul/Aug 2017 Fully Responsive DEALER Feeds to Third Party Websites Social Media Integration Craigslist AD Generator Google Friendly The magazine of the MISSISSIPPI INDEPENDENT Free Domain Registration AUTO DEALERS ASSOCIATION MSIADA.ORG Accept Online Payments 1705 Old Whitfield Road, Suite A Pearl, MS 39208 Online Credit Applications T (601) 939 - 9866 | F (601) 939 - 9882 Website Lead Notifications CHAIRMAN OF THE BOARD Steven Watkins • Watkins Auto Sales, Inc. Carfax Integration Jackson, MS Dealer Management PRESIDENT Auto Check Integration Bryan Morris • Long Beach Auto Auction, Inc. Long Beach, MS Software Embeded YouTube Videos VICE PRESIDENT (NORTHERN REGION) DP Danna • Selecta Motors, LLC Print Forms on Plain Paper Wayne Reaves DMS Integration Indianola, MS VICE PRESIDENT (CENTRAL REGION) Calculate Deal Numbers Easy to Manage Will Etheridge • Net Auto, Inc. Richland, MS Internet Based VICE PRESIDENT (SOUTHERN REGION) IN THIS ISSUE Bobby Seal • Jackson Avenue Auto Sales Inc. Automatic Backups Pascagoula, MS 2 | Download the NEW MSIADA 11 | Auction Directory SECRETARY App and Save Big! 12 | Q&A with NIADA’s Steve Automatic Updates Bentley Nolan • Nolan Brothers Motor Sales Fully Responsive Websites Tupelo, MS 3 | Industry Cheers as CFPB Jordan Prospect Manager TREASURER Reform Measure Passes 14 | The CARLAWYER© Thomas Conner • Heritage RV Center E-mail and Text from DMS Olive Branch, MS House 15 | Pre-Licensing Calendar 6 | 10 Bad Habits You Must 15 | Predicting Auto Retail’s Top Inventory Management EXECUTIVE DIRECTOR | EDITOR Eliminate from Your Daily 3 Trends in an Unpredictable Andrew Caldecott Cash and Wholesale Deals MAGAZINE COORDINATOR & AD SALES Routine 2017 Professional Mojo 8 | Independent Dealers Steer 16 | Service Provider Directory Buy Here Pay Here [email protected] Through Challenges 19 | U.S. States Could Not Set PRODUCTION EDITOR | COPY WRITING Bank Financing Professional Mojo 9 | Hackers Target Dealer Social Self-Driving Car Rules Under [email protected] Media Posts Republican Plan Related Finance Company OFFICE MANAGER Nikki Miles 10 | NIADA Welcomes Hudson 20 | New Members and Collections and Repossessions into Ring of Honor Renewals For more information about the MIADA 11 | BE IN THE SPOTLIGHT: 20 | MIADA Membership Accounting Reports topics addressed in this issue or for additional copies please contact MIADA, MIADA is looking for YOUR Application Route One Integration (601) 939 - 9866. content. Copyright 2017 Wayne Reaves Website Integration CALL NOW MIADA MISSISSIPPI DEALER Jul/Aug 2017 | 1 WayneReaves.com 800.701.8082 executive director | Download the NEW MSIADA ADVERTISER INDEX 5 Ace Motor Acceptance Corp. App and Save Big! 13 Manheim Mississippi We have been working for over a year to develop an app IBC NextGear Capital for the association and it is now complete. Most of the state 18 Professional Mojo associations will be following our lead on this, and the auc- tions like the new system much better. IFC Wayne Reaves Software 2 West Insurance Center, Inc. We will be adding new features to the app soon. All of the buy/sell coupons are already there, and we have more than _______________________ doubled the dollar amount. We will be adding even more in TO ADVERTISE WITH MIADA the coming months. To receive a copy of the Media Kit for MISSISSIPPI DEALER magazine, The coupon books we sent out in the past will no longer please send a request via email to be available, so we encourage you to download the app [email protected] or EXECUTIVE DIRECTOR from either the Apple App Store or Google Play Store. You call (866) 611-2715 ext. 1. Andrew Caldecott will need to search for MSIADA to download it. Once it is downloaded you will need to scroll to the bottom to find MIADA is a not-for-profit industry “Membership Rewards” and register. Your user name cannot be your email address and trade association that has been the voice your password must be at least eight characters long with a capital letter and a number. of Mississippi’s independent auto deal- ers since 1968. MIADA is committed to Once you have registered, I will get an email and I will need to approve it on my end. One representing, educating, and informing other thing you will need is your membership number. If you don’t know it, you can call Mississippi’s most successful indepen- our office. We realize some of you may not use the latest technology and may still be using dent motor vehicle dealers. Dealers turn a flip phone, so we will print new coupon booklets, but these coupon books will look much to MIADA to provide them solutions different from those that we have sent out in the past. and answers to business related ques- tions and consumer related questions. As always, if you have any questions or if you have a concern that we may assist with, please don’t hesitate to call the office. We will be happy to help in any way that we can. Our primary purpose is to identify and address the legal and legislative issues Hope you have a great summer, that confront the used car industry in Mississippi, but we do much more. Through MIADA’s impressive network of a wide variety of companies who sup- port our industry, our members enjoy pre-negotiated discounts on products and services they need to be successful AUTO DEALERS INSURANCE in the car business. We encourage you SERVING MIADA SINCE 1989 • DEPENDABLE SERVICE • COMPETITIVE RATES to check out the Dealer Service Provid- er Directory. These services include, but Truth & Lending E&O Coverage & Title E&O Coverage False Pretense • Worker’s Compensation • Garage Liability are not limited to auto auctions, insur- Odometer Coverage • Commercial Property • Repair Shops ance companies, legal advice, and ad- Dealers Open Lot • Dealer & Title Bonds • Life & Health vertising. All members receive a coupon book containing about $5,000 in real CALL OUR OFFICE TO SAVE MONEY! discounts. LEE DIXON, CIC & CHARLES GORDON LICENSED AGENTS If you would like information about membership and the benefits associated WEST INSURANCE CENTER, INC. with becoming a part of MIADA, please RELIABILITY 800-898-1030 • WestInsuranceCenter.com don’t hesitate to give us a call. 2 | MIADA MISSISSIPPI DEALER Jul/Aug 2017 Industry Cheers as CFPB Reform Measure Passes House By Nick Zulovich, Senior Editor, Auto Remarketing While lawmakers from opposing parties their “hard work and dedication to ensur- ability to discount credit in the showroom. either cheered or jeered the vote tally, in- ing that American consumers have access The also requires the bureau to: dustry advocates from the banking, finan- to the credit they need and deserve.” • Provide public notice and comment cial services and dealership communities before issuing any additional auto-fi- on Thursday all applauded the U.S. House AFSA continued by stating, “The CHOICE nancing guidance of Representatives for passing H.R. 10, the Act would make important strides in rein- • Make publicly available all studies, Financial CHOICE Act. ing in the (CFPB) and significantly reduc- data, methodologies or other informa- ing the regulatory burden placed on finan- tion relied upon to produce the guid- The measure is a comprehensive financial cial services by the Dodd-Frank Wall Street ance reform bill that includes what one group Reform and Consumer Protection Act.” • Study the costs and impacts of the called “significant and much-needed re- guidance. forms” to the Consumer Financial Protec- AFSA added that it submitted a letter of sup- tion Bureau (CFPB). port in May and will continue to work with NADA also pointed out the CHOICE Act Congress as the bill moves to the Senate. brings the CFPB under the regular congres- The CHOICE Act passed the House by a sional appropriations process for the first 233-186 vote with party lines primarily di- In another statement sent to SubPrime time, which is another reform NADA has viding the representatives on this matter, Auto Finance News, the National Automo- long supported. which now will be in the hands of the up- bile Dealers Association appreciated the per chamber beginning with the U.S. Sen- House’s actions and those “significant and “Access to affordable credit is essential to ate Banking Committee. much-needed reforms” because the orga- customers and their dealers,” NADA pres- nization believes changes will bring relief ident and chief executive officer Peter In a statement sent to